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CB Real Estate, a privately-held institutional investment management firm and development company based in Baltimore, has successfully repositioned Westridge Square, a 252,000 square foot regional shopping center in Frederick, Maryland. The comprehensive strategy involved tenant relocations, new leasing efforts, zoning approvals, and extensive property upgrades, resulting in significant improvements to the asset.
One of the key highlights of this campaign was attracting Crunch Fitness as an anchor tenant. The national franchise concept has opened a 40,000 square foot facility within Westridge Square, featuring two levels of state-of-the-art fitness equipment, including cardio and strength training machines, personal training areas, group fitness studios, and more.
According to MCB Principal Drew Gorman, the center's location along Frederick's "Golden Mile" near the MD Route 40 corridor offers strong demographics, ample traffic, and high visibility. The property benefits from easy access to a growing population of nearly 140,000 residents and 6,200 businesses within a 15-minute drive.
To revitalize the site plan, MCB made significant structural modifications by connecting the former one-story Gold's Gym space with the upper-level courtyard area, transforming it into the two-story Crunch Frederick. The exterior façade was also renovated to incorporate new signage, wood-style finishes, and a modern color palette.
Crunch Fitness owner Chad Smith attributes the facility's success to its ability to deliver a high-quality experience at an affordable price point, with discounted rates starting at $9.99 per month. The facility features a 2,500 square foot outdoor space, which has become a significant draw for members.
Westridge Square now co-anchors the center with H Mart, strengthening its appeal as a vibrant shopping and lifestyle hub. MCB Real Estate is also exploring a residential component to enhance long-term success, following rezoning approval in late 2023. Positioned in a high-growth area with strong demographics and easy highway access, Westridge Square is evolving into a premier mixed-use destination.
MCB Real Estate is a community-centric firm founded in 2007, boasting a nationwide portfolio of operating assets totaling approximately 15 million square feet of industrial, office, retail, mixed-use, multi-family, and life sciences properties. The company offers a comprehensive suite of commercial real estate investment services, ensuring support throughout every stage of an asset's lifecycle.
